Technology

Technology Sector Update for 08/23/2021: NXTP, MXIM, ADI, ALVR, VRSK

Technology stocks were higher, with the SPDR Technology Select Sector ETF (XLK) Monday rising 1.3% while the Philadelphia Semiconductor Index was advancing 2.5% this afternoon.

In company news, NextPlay Technologies (NXTP) rose 7.8% after Monday announcing its purchase of the Make It Games AI-powered video game development division from privately held Fighter Base Publishing. Financial terms were not disclosed.

Maxim Integrated Products (MXIM) climbed 4.5% after the chipmaker and Analog Devices (ADI) said they expect to complete Analog Device's acquisition of Maxim on Thursday after Chinese anti-trust regulators signed off on the deal. Analog Devices also was 1.4% higher this afternoon.

Avalara (AVLR) climbed 2.2% after partnering with Verisk Analytics (VRSK) to integrate its AvaTax platform with Verisk's Property Pres Wizard work order management platform and helping streamline tax compliance workflows for property preservation specialists. Financial terms were not disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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